Oaktree wrote to the Jakks Pacific’s board on Friday saying it would be willing to restart discussions if the terms are acceptable, Jakks Pacific said in a filing with the U.S. Securities and Exchange Commission.

A standstill pact is a takeover defense where a hostile bidder agrees to limit its holdings in a target company.

Jakks Pacific bowed to investor pressure in April by agreeing to discuss Oaktree’s $20 per share offer and outlined plans to buy back shares to put pressure on the private equity firm to raise its bid.

The company, which received Oaktree’s $670 million unsolicited bid last September, has repeatedly spurned the private equity firm’s advances and adopted a poison pill takeover defense in March.